BTC makes a break for $118K, and stocks futures on the up
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🟠 Bitcoin hovers - around $117K after testing $118K.
🚀 Avalanche (AVAX) surges - +19% this week, +50% over 30 days.
📈 US stocks futures rise - as investors bet on more Fed rate cuts this year.
There’s been some chop in markets since the Fed rate cut, with Bitcoin making a run for $118,000 and coming up just short around $117,900 yesterday. It has since settled near $117,000 this morning and is on the rise again. However, it’s mostly flat across crypto markets with a few standouts. Avalanche (AVAX) extended its gains overnight, up 19% on the week and more than 50% over 30 days. Chainlink (LINK) also added to the momentum, rising over the past 24 hours.
Alongside Bitcoin’s upward creep, S&P 500 and Nasdaq futures climbed after the Fed decision, signalling investor expectations for more gains as the central bank is set to cut rates two more times this year. Rising futures prices suggest traders are paying a premium to lock in future delivery, pointing to stronger demand versus supply expectations.
History is by no means a crystal ball, but September has often been a slow month for crypto markets. The question now: will the Fed’s rate cut buck that trend?
In the markets…
🌍 Total crypto market cap ↘️
The global crypto market cap is approximately $4.17 trillion, down 0.4% from this time yesterday.
🟠 Bitcoin (BTC) ↘️
Price: $116,172 down 0.11% in the last 24 h.
Daily high: $117,888
Daily low: $116,714
📈 S&P 500 ↗️
SPY is currently up about 0.48% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is up about 0.95% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 52/100, in Neutral.
*Data is correct as at 18 September, 07:39 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
